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Posted by: Jennifer Koop
4 COMMON FINANCIAL MISTAKES EVERY SMALL BUSINESS OWNER SHOULD AVOID Every entrepreneur and business owner will make a few financial mistakes during their journey. Those who aren’t savvy in accounting often overlook the need to brush up on their financial IQ. Truth is, these little financial errors can lead to some serious cash flow problems […]
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THE NEW NORMAL ’Tis the season… this was no surprise here! The latest round of mortgage guidelines has been announced by OSFI, or Office of the Superintendent of Financial Institutions. As of January 1, 2018, all conventional or uninsured mortgages will have to qualify at the Bank of Canada 5-year fixed rate or the contractual […]
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BANK OF CANADA ON SIDELINES, AS EXPECTED BOC Will Raise Rates Only Cautiously Our own Dr. Sherry Cooper, Chief Economist, Dominion Lending Centres reports: The Bank of Canada held overnight interest rates at 1.0% following two consecutive rate hikes at the July and September meetings. It was widely expected that the Bank would take […]
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TIME TO LOCK IN A VARIABLE RATE MORTGAGE? Approximately 32 per cent of Canadians are in a variable rate mortgage, which with rates effectively declining steadily for the better part of the last ten years has worked well. Recent increases triggers questions and concerns, and these questions and concerns are best expressed verbally with a […]
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This week, OSFI (Office of the Superintendent of Financial Institutions) announced that effective January 1, 2018 the new Residential Mortgage Underwriting Practices and Procedures (Guidelines B-20) will be applied to all Federally Regulated Lenders. Note that this currently does not apply to Provincially Regulated Lenders (Credit Unions) but it is possible they will abide by […]
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